Electric-car bankruptcy: Fisker buyer advances

Federal Bankruptcy Court Judge Kevin Gross in Wilmington on Tuesday set a Jan. 3 hearing on a plan for creditors to approve the proposed sale of the company to Hong Kong-based Hybrid Technology LLC for $25 million. Writes the Associated Press here. Highlights:

“Hybrid Technology LLC, owned by Hong Kong billionaire Richard Li, is seeking to buy Fisker in bankruptcy after paying $25 million for DOE’s outstanding loan, resulting in a loss to federal taxpayers of $139 million…

“Fisker, which had planned to build cars at a former General Motors plant in Delaware, filed for bankruptcy protection last month, ending a long, downward spiral that began after it received a $529 million loan commitment from the U.S. Department of Energy.